Adaptive Cruise Control Market Growth in Luxurious Vehicles which is Equipped with Advanced Safety Features

Adaptive cruise control market is set to cross $15.0 billion by 2023, growing at a CAGR of 18.3% between 2017-2023. The rapidly growing automotive industry especially in emerging economies of India, China, Brazil is generating significant demand for vehicle fitted with adaptive cruise control. Vehicle safety regulations and initiatives by various associations and trade unions are backing the increasing installations of adaptive cruise control (ACC) systems in vehicles.

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As per the findings of research, the global adaptive cruise control market has been segmented into technology, application, end-use and region. In 2016, radar segment accounted for the largest share in global adaptive cruise control industry and garnered 33.7% share in the global market. On the other hand, lidar segment is expected to witness the fastest growth in the market.

North America and Europe collectively accounted for more than 65% in the global adaptive cruise control market in 2016. The regions are expected to dominate the global market during the forecast period. Adaptive cruise control system can be seen in a wide array of cars. Audi, BMW, Chevrolet, Dodge, Ford, Honda, Hyundai, Land Rover, Lexus, Mercedes-Benz, Nissan, Porsche, Subaru, Toyota, and Volvo are some of the well-known brands that offer adaptive cruise control system as standard or optional equipment in some of their cars.

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Some of the major players include Autoliv Inc., Continental AG, Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH, Valeo SA, Hyundai Mobis, ZF Friedrichshafen AG and Magna International Inc.

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